Public statement within the scope of the tourism project planned to be realized by our Company in Bodrum Cennet Bay, with regard to the annulment of building permits by decision of Bodrum Municipality dated 12.12.2022.

Building permits for the project to be realized by our Company on the immovable property registered in Muğla Province, Bodrum District, Gölköy, Göl Neighborhood, block 306, plot 1 (formerly plot 107) were issued by Bodrum Municipality on 12.12.2022. But today (09.01.2023), we have been officially notified that the permits had been annulled with the Mayor’s Approval dated 06.01.2023.

First of all, we must note that this decision of the Mayor of Bodrum to annul our building permits much to our regret is illegal, arbitrary and politically motivated. The official records kept at the Bodrum Land Registry Directorate show that our Company is the rightful owner of the plot. Moreover, there is no annotation or deed restriction that would preclude any building activity or the realization of the project on the plot in question.

As shared with the public earlier, the plot in question has been zoned for tourism for many years now, with all allotment and expropriation procedures completed with the official approvals of the relevant institutions and organizations affiliated with the Privatization Administration, Ministry of Environment, Urbanization and Climate Change, and the Ministry of Culture and Tourism.

During building permit issuance procedures, our Company made official correspondence with all relevant institutions including Bodrum Municipality and Bodrum Land Registry Directorate. There has been no change in the situation meanwhile that would have required the annulment of our Company's building permits.

Neither our Company nor Bodrum Municipality is a party to the administrative lawsuits that are cited as grounds for annulling our building permits, and Bodrum Municipality has been well aware of the mentioned decisions since the very beginning of permit issuance procedures.

As is known, land registry records constitute official, sole and conclusive evidence in proving rightful ownership of landed property. Bodrum Municipality has no authority to decide that our Company's ownership of the plot had expired by citing some court decisions made in administrative cases in the past, particularly given the fact that judicial courts have exclusive jurisdiction over any such matter. As such, it is not possible for any of the aforementioned administrative court decisions to create any legal effect on our Company’s ownership, the last rightful owner of the land.

For the reasons explained, the Mayor of Bodrum has clearly violated the legislation with his decision, against which we shall take immediate legal action and press criminal charges against all involved.

Respectfully submitted to the public

Cengiz İnşaat Sanayi ve Ticaret Anonim Şirketi